Liverpool failed to capitalise on Manchester City 2-1 loss to Newcastle on Tuesday.
Leicester City proved a hard nut to crack for the table toppers.
Mane opened the scoring in the 3rd minute as Liverpool began to pressurise the Leicester defence in search for more goals but there was no way in.
Leicester City occasionally threatened on few occasions on the counter but they could not muster a serious attempt at goal.
Maguire escaped a red card for a professional challenge on Saido Mane.
Harry Maguire restored parity for Leicester City late in the first half.
Liverpool gave all they could but resolute defending and incredible goalkeeping by Schmeichel denied them the maximum points.
The Reds are five points clear of second place Manchester City.
